When I buy something with #money, it looks like the exchange is complete.
But reality shows quickly it is only half of an exchange.
Let us assume that #wealth in the #economic sense is the same thing as all goods and services. And that wealth cannot possibly be money, in this universe. Because then we're talking in the metaphysical sense, not the economic one. Are we scientists, or not!
Exchanges, in the final analysis are goods and services, exchanged for other goods and services. Wealth, exchanged for other wealth.
Money is the imaginary intermediation for each complete and whole exchange of wealth, for other wealth.
Money is like credit - a promise to pay which apparently happens immediately when I hand over #cash for wealth.
But the actuality is different if you analyse it inherently. The promise to pay is not for the immediate goods exchanged. It is the promise that whoever gave up the initial goods will be able to get the same value in goods on the other side of the exchange later on. It is still a #credit loan effectively.
So when I give money for coffee, the money is only taken because the trader knows another trader will accept it equally when they too want to buy the wealth they desire.
Money is a half credit or promise to pay on whomever has given up wealth for it. The other half of the credit is made later on, again for goods and services, completing the exchange.
You cannot own credit. That is like saying you can own an idea. Money, in this universe, cannot be wealth. It is used to exchange wealth. It is not really the money we want, but the things you can buy with it. Money is not wealth. And very great danger comes to the world, when it starts to believe in that illusion.
Sure, you can own the paper, metal and digital signatures which are token proxies masquerading with utility for wealth. But while these #tokens, made from commodities, are in use as token money, they cannot be used up as commodities simultaneously. As soon as you try to use them up as commodities they cease to be money and you likely have wasted something of much higher buying value foolishly.
THE money used by a community as a currency, will always be the most exchanged commodity, in that time and place. Presently, this is the debit money of cards and phones.
I've been asking the #Bitcoin community if they think the most exchanged thing will one day be a chain of digital signatures secured by proof of work.
But I cannot get a sensible answer from them. I believe this is because they still think Bitcoin will bring about an anti government,anti bank and anonymous revolution. They are not yet ready to consider the possibility that Bitcoin is just the latest form of money with potential to be THE money.
This is an essential question the Bitcoin community is urgently avoiding. Because it brings their ideology under serious scrutiny. But does this community want success for the whole world? Or just itself and it's ideal?
Is the Bitcoin community really as serious about this as they want to be seen as? Not yet I think. They'd better hurry up and decide to be ready for the great recession in 2026. For then it might be urgently called on by the people of the world.